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Mar 11, 2012
03/12
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as a nation, what progress has been made to balance our annual budget deficit? have any real spending reductions been proposed by the democratic majority in the senate? has president obama made any real attempts to reduce spending? all we see are budgeting games. the american people are growing tired of the constant pleas for tax increases from this administration. long before any real proposals appear for spending reductions. but keeping government's house in order is only part of the equation. the other part is focusing on creating good-paying jobs. north dakota has been ranked number one in the nation in job creation for each of the last three years by a gallup poll study. we have created a friendly business climate in north dakota. taxes and insurance rates are low. the regulatory environment is reasonable, and we have the most responsive state government anywhere. companies want to expand in north dakota because of the ease of doing business and because of our well-educated, well-trained work force. why do fortune 500 companies like caterpillar, amazon.com
as a nation, what progress has been made to balance our annual budget deficit? have any real spending reductions been proposed by the democratic majority in the senate? has president obama made any real attempts to reduce spending? all we see are budgeting games. the american people are growing tired of the constant pleas for tax increases from this administration. long before any real proposals appear for spending reductions. but keeping government's house in order is only part of the...
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Jul 26, 2012
07/12
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>> if left unaddressed, our long term fiscal deficits would damage the american economy. i agree if left unaddressed, that would be true. >> honey morgan jr. secretary treasurer under franklin roosevelt. he has often been quotes recently. he said, "we are spending more money than we have ever spent before and it does not work. i want to see this country prosperous, i want to see people get a job. we have never made good on our promises. i say after eight years of this administration, we have just as much unemployment as when we started and an enormous debt." what's different between then and what is happening now in light of secretary's comment? >> good question and context. chairman greenspan and others have said this crisis was caused by a shock, a storm much larger than what caused the great depression but because of the things we did, and we were able to get the economy growing again much more quickly. the economy is much stronger than was at that time in history that you refer to and much stronger than it was when we came into office. the fiscal challenges we face --
>> if left unaddressed, our long term fiscal deficits would damage the american economy. i agree if left unaddressed, that would be true. >> honey morgan jr. secretary treasurer under franklin roosevelt. he has often been quotes recently. he said, "we are spending more money than we have ever spent before and it does not work. i want to see this country prosperous, i want to see people get a job. we have never made good on our promises. i say after eight years of this...
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Jun 24, 2012
06/12
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bush years, created the deficit, did not create jobs, took us to the brink of a depression that is very hard to grow out of and not to assign blame to him which the whole world has already done but when they bring this up again as their approach, then you have to say this did not work before, it will only make matters worse for the middle-class. we are saying to them, pass the transportation bill. take away the uncertainty to students for the interest they will pay on student loans. past the middle income tax cut so that we can remove all doubt that that will exist and not be held hostage to tax cuts for the wealthiest people in the country. we have seen it all in their budget in which they have enshrine the unfairness which is their goal. how else would you describe elimination of medicare, making seniors pay $6,400 more while getting fewer benefits while you get in over $300,000 tax cut to people making over $1 million per year? do you think it's fair for students to pay double interest on their student loan while you give that same several hundred thousand dollar tax break to the wea
bush years, created the deficit, did not create jobs, took us to the brink of a depression that is very hard to grow out of and not to assign blame to him which the whole world has already done but when they bring this up again as their approach, then you have to say this did not work before, it will only make matters worse for the middle-class. we are saying to them, pass the transportation bill. take away the uncertainty to students for the interest they will pay on student loans. past the...
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Feb 11, 2012
02/12
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republican governors are balancing budgets on time without tax increases and without deficit spending. their hard work to make government more efficient and effective is helping to create the environment where americans can use their talents to compete and innovate to pursue the american dream. in the most recent rankings of business friendly states, 11 of the top 15 states have republican governors. those states are outpacing democratic counterparts when it comes to job creation takes seven of the 10 states with the lowest unemployment rates have republican governors. in 2011, states with republican governors added 912,000 new jobs. a true and lasting economic recovery will not come from government. it will come from the hard work, talents, and vision of the american people. republicans believe it is our duty to create an environment where private sector jobs can be created and sustained. we know when we limit government to free capital and reduce litigation, we spur private sector job creation. we believe the role of government in an economic recovery is simple. at every level, gove
republican governors are balancing budgets on time without tax increases and without deficit spending. their hard work to make government more efficient and effective is helping to create the environment where americans can use their talents to compete and innovate to pursue the american dream. in the most recent rankings of business friendly states, 11 of the top 15 states have republican governors. those states are outpacing democratic counterparts when it comes to job creation takes seven of...
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Oct 20, 2012
10/12
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if the deficit was not an issue -- and republicans really do not care about the deficit, that is not real to them -- we will still be able to do what we believe has to happen for economic growth. and that is, to put more money into americans' pockets so they can buy more products. and then companies will meet that demand. unless you actually have consumer demand, then it does not matter what kind of gives we give you. it just makes you richer, not want to make more products. we think that under the bush years, if you noticed, we ended up with a very troubled economy and deep recession. if their principal work, then the f.m. growth that pete is talking about, that paul ryan is talking about, then we would not be in the mess that we were in four years ago. i think you believe that. if you want to be serious about competitiveness for the future, you have all talked about the fact they want to be more competitive. you need cheaper energy and a skilled work force. you need airports and rail that work. and you cannot do it without just those things on your own. the notion that this concept
if the deficit was not an issue -- and republicans really do not care about the deficit, that is not real to them -- we will still be able to do what we believe has to happen for economic growth. and that is, to put more money into americans' pockets so they can buy more products. and then companies will meet that demand. unless you actually have consumer demand, then it does not matter what kind of gives we give you. it just makes you richer, not want to make more products. we think that under...
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Feb 1, 2012
02/12
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everyone is aware of the deficit situation. it is plaguing not only congress but our national politics. a lot of the reaction and statements are fairly predictable. you are seeing political statements from republicans casting it as a failure of president obama's leadership. democrats see a different way. you have seen the president do more push back on the idea lately. he has gone into campaign mode. >> how will the numbers come but the projections, when you take it back to capitol hill, how will the impact of the lawmakers approach the annual budget? >> the answer is hardly at all. those numbers were not surprising. keep in mind, all those lifts that were attended on budgetary issues, they are done. the debt limit deal that resulted in a trillion dollars in discretionary cuts. the sequester on top of that which is controversial, they were already done. talks with vice-president biting, of the talks. debt limit talks, super committee talks all failed. everyone accepts that none of that is going to get solved in any meaningful w
everyone is aware of the deficit situation. it is plaguing not only congress but our national politics. a lot of the reaction and statements are fairly predictable. you are seeing political statements from republicans casting it as a failure of president obama's leadership. democrats see a different way. you have seen the president do more push back on the idea lately. he has gone into campaign mode. >> how will the numbers come but the projections, when you take it back to capitol hill,...
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Sep 8, 2012
09/12
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the $1.3 trillion deficit is a big hole. and just saying that we will grow our way out of it is not what any reasonable person should say. but on the other hand, having no growth agenda, that would be self-inflicted injury. >> if i could follow up on what reed said, those years c'mon president clinton -- those years, president clinton in the 1996 state of the union address, he said the era of big government is over. those years were also relative to prior years. it was a deregulatory time. i would
the $1.3 trillion deficit is a big hole. and just saying that we will grow our way out of it is not what any reasonable person should say. but on the other hand, having no growth agenda, that would be self-inflicted injury. >> if i could follow up on what reed said, those years c'mon president clinton -- those years, president clinton in the 1996 state of the union address, he said the era of big government is over. those years were also relative to prior years. it was a deregulatory...
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Aug 22, 2012
08/12
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. >> so it would be bigger than any intentional round of deficits since we started to reduce the deficit 30 years ago. >> i'm not sure what is intentional. the biggest one-year reduction as a share of gdp. >> in the alternative, can you give any indication of which ones have degraded or have the least impact of economic growth? >> we have not tried to break down the pieces of fiscal tightening. most of the narrowing of the deficit comes from increases in tax revenues. the much smaller share comes from reductions in spending. just by the amount of dollars being moved, the increases in taxes probably have a larger economic effect than the reductions in spending. the effects depend on the policies. we do these analyses, we have different things for different policies. i do not know dollar for dollar . the alternative fiscal scenario has deficits that are much larger. changes in tax policy and changes on the spending side. >> getting back to the take away for congress. would you say this raises the stakes for them to act? >> i think the stakes of fiscal policy are high right now. i didn't kn
. >> so it would be bigger than any intentional round of deficits since we started to reduce the deficit 30 years ago. >> i'm not sure what is intentional. the biggest one-year reduction as a share of gdp. >> in the alternative, can you give any indication of which ones have degraded or have the least impact of economic growth? >> we have not tried to break down the pieces of fiscal tightening. most of the narrowing of the deficit comes from increases in tax revenues....
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Nov 3, 2012
11/12
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by the time he left, we had massive deficits. he voted to increase the debt by $16,000 every second he was in the senate. he expanded medicare, which was good, but he did not pay for it. he was part of a senate and a house that declared two wars but did not pay for the wars and instead put them on the credit card for our kids to pay. he made a massive tax cuts to health -- to help the wealthy. he did not pay for them. we went from surplus to deficit. he voted four times to raise his own pay. he voted four times to raise the debt with it, he voted for 52,000 earmarks that totaled $121 billion. even george had to admit, spending was a problem when i was in the senate. we do not need to go back to it. he is a harsh partisan. he attacked hillary clinton as someone who does not share our values. attacking john kerry. george would not joined a gang to bring senators together. he said, we do not need to compromise. >> your rebuttal? >> john warner and i worked as a team for virginia. i am proud of john warner as a friend and ally. as fa
by the time he left, we had massive deficits. he voted to increase the debt by $16,000 every second he was in the senate. he expanded medicare, which was good, but he did not pay for it. he was part of a senate and a house that declared two wars but did not pay for the wars and instead put them on the credit card for our kids to pay. he made a massive tax cuts to health -- to help the wealthy. he did not pay for them. we went from surplus to deficit. he voted four times to raise his own pay. he...
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Sep 16, 2012
09/12
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for the deficit, you can just as easily imagine a democrat saying that the deficit is the biggest issue because look at what happened under bush and look at how paul ryan voted for every deficit this and that. for most voters, i do not like it because of those dirty liberals. >> we should go through these fairly quickly. i will nominate one person to answer because we have a lot of questions right here. the want to talk about the impact of the auto industry position for present obama and mitt romney. that is a really good question. in romney's words, the auto industry gets the elevator and the workers get the shaft. romney has established the midwest as a crucial battleground. obama is not the popular there. he has as of the industry bailout in his back pocket. mike, tell me, what will the impact be of of the industry bailout? >> it put michigan out of reach for running. -- romney. we agree on that. he is not trying to claim that he was for it all along. it is one of those things where you do not know. certainly the people who said that the government -- general motors would be doomed w
for the deficit, you can just as easily imagine a democrat saying that the deficit is the biggest issue because look at what happened under bush and look at how paul ryan voted for every deficit this and that. for most voters, i do not like it because of those dirty liberals. >> we should go through these fairly quickly. i will nominate one person to answer because we have a lot of questions right here. the want to talk about the impact of the auto industry position for present obama and...
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May 6, 2012
05/12
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problem, why not get rid of all bush tax cuts and address the deficit problem? why wouldn't we do well with those rates over the next five years? >> the president has made clear that he wants to maintain a middle-class tax cuts that have been put in place. he proposed a balanced approach which would raise the top two grades in america and make smart cuts in the budget that's away to have a stronger economy. >> let me ask you about the corporate tax rate how much lower could you make the corporate tax rates? what would be the two or three major preferences you would address so that it is revenue neutral? >> having worked at treasury, i learned not to step too much on the assistance tax policy job. one thing that would be very helpful is to take the production tax credit which has a work -- which has morphed into a broader tax credit and focused on advanced manufacturing. that is what the president proposed. you have to scratch your head and say this doesn't make much sense. they are knocked the types of industries where they could easily move offshore to tax have
problem, why not get rid of all bush tax cuts and address the deficit problem? why wouldn't we do well with those rates over the next five years? >> the president has made clear that he wants to maintain a middle-class tax cuts that have been put in place. he proposed a balanced approach which would raise the top two grades in america and make smart cuts in the budget that's away to have a stronger economy. >> let me ask you about the corporate tax rate how much lower could you make...
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Mar 20, 2012
03/12
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i will not add to the deficit with my tax plan. by getting growth into our economy again, i will reduce it. i've also got to cut spending and i recognize that. i have a three-fold approach to how you cut federal spending. we have to eliminate programs. some programs we like and some we're happy to get rid of but we have to eliminate some programs. there are too many and it is a majority of washington elected officials who go there and come up with a program so they can go home and say look what i created. you know how many work force training programs are in washington? 47, 47 different work force training programs reporting to eight different agencies. think of the overhead. no one in business would allow such a thing. i will take all those programs and collapse them down to one and send the money back to the states and say you create the programs. we will eliminate programs. i will get rid of obama care. that is $95 billion we cannot afford. [applause] that is easy. subsidies to amtrak and pbs and the national endowment for the a
i will not add to the deficit with my tax plan. by getting growth into our economy again, i will reduce it. i've also got to cut spending and i recognize that. i have a three-fold approach to how you cut federal spending. we have to eliminate programs. some programs we like and some we're happy to get rid of but we have to eliminate some programs. there are too many and it is a majority of washington elected officials who go there and come up with a program so they can go home and say look what...
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Dec 23, 2012
12/12
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i think now with these huge deficits, it is very hard to say that there should be a substantial increase of foreign aid when we're talking about going off the fiscal cliff and we do not have enough money to do some basic things with we should be doing at home. i think this is the worst possible time to do it. in general, we're underfunding in my estimation foreign aid. we do foreign aid because it is the right thing to do, but it is the right thing to do for the united states. we need friendly countries around the world, we need countries that emulate us. we have much to share, much to give to the world. i think it helps the united states. it also helps stimulate our economy. some of the aid we give is put right back into our economy. >> when we're talking about the fiscal cliff, we heard so much about spending and revenues over the next decade. is the best scenario over the next decade merely a maintenance of existing foreign aid? >> certainly we should maintain it. we have in fact cut back on foreign aid. at the very least, we should maintain it. i would like to see if we get to a plac
i think now with these huge deficits, it is very hard to say that there should be a substantial increase of foreign aid when we're talking about going off the fiscal cliff and we do not have enough money to do some basic things with we should be doing at home. i think this is the worst possible time to do it. in general, we're underfunding in my estimation foreign aid. we do foreign aid because it is the right thing to do, but it is the right thing to do for the united states. we need friendly...
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Nov 8, 2012
11/12
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we will lose our rating once again as a nation because of our irresponsible deficit spending. if the two parties can get together because government is divided and tackle the whole issue about entitlements spending, we would be contributing a great deal to our country. >> the president expressed openness to reductions in spending with talks with john boehner but not structural changes, not ending the federal entitlement to medicare or medicaid as the ryan budget would do as a block grant. where do think that goes after the election? >> i think the president crossed a rubicon thereby putting medicare and medicaid on the table, hundreds of billions of dollars in cuts in medicare not to mention the $700 billion that romney tried to put back in. that was ironic. so security, no, that has not been on the table. i think he has already done so and i suspect he will continue. >> i will go to the audience in a minute. the medicare $700 billion is one of the only times i have been washington were politics transferred resources down the generational latter. the baby boom is 80% white and
we will lose our rating once again as a nation because of our irresponsible deficit spending. if the two parties can get together because government is divided and tackle the whole issue about entitlements spending, we would be contributing a great deal to our country. >> the president expressed openness to reductions in spending with talks with john boehner but not structural changes, not ending the federal entitlement to medicare or medicaid as the ryan budget would do as a block grant....
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Nov 10, 2012
11/12
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if we are serious about reducing the deficit, we have to combine spending cuts with revenues. that means asking the wealthiest americans to pay more in taxes. that is the only way we can afford to invest in education and job training and manufacturing, the ingredients of a strong upper class and economy. i have put a plan to allow us to make these investments and reduce our deficit by $4 trillion of the next decade. i hope to compromise for new ideas but i refuse to accept any approach that is not balanced. i will not ask students, seniors, more middle-class families to pay down the deficit while people making over $250,000 are not asked to pay more in taxes. this was a question in the election. the majority of americans agree with my approach. we need a majority in congress. they should start by making sure taxes do not go up on the 98% of americans making under $250,000 per year starting january 1. this is something we agree on. the taxes on middle-class families should not increase. congress should permanently extend the middle-class tax cuts as we negotiate a deficit reduc
if we are serious about reducing the deficit, we have to combine spending cuts with revenues. that means asking the wealthiest americans to pay more in taxes. that is the only way we can afford to invest in education and job training and manufacturing, the ingredients of a strong upper class and economy. i have put a plan to allow us to make these investments and reduce our deficit by $4 trillion of the next decade. i hope to compromise for new ideas but i refuse to accept any approach that is...
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Jun 3, 2012
06/12
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you proposed a stimulate now with a big deficit reduction later plan. do you think either candidate has embraced that kind of vision? >> i think that is the real transition that needs to take place here. we have two problems. we have a short-term cyclical deficit, which is quite substantial in this slow recovery and a longer term issue that existed before this. you have to be able to walk and chew gum at the same time and it's a very difficult thing to do politically. it's good to do things that are targeted that could increase the deficit but they will help to get you over the hump along as you have a credible back up plan. if you ever choose between the two 41 it instead of the other, it is unsustainable. whereas the economy will probably take care of itself at some point. i think it is really important for the president to focus on tactical issues. you cannot stimulate your way out of that. you cannot grow your way out of it. a really think there should be more done on the issue. it was not just a payroll tax cut but a payroll holiday for a full year
you proposed a stimulate now with a big deficit reduction later plan. do you think either candidate has embraced that kind of vision? >> i think that is the real transition that needs to take place here. we have two problems. we have a short-term cyclical deficit, which is quite substantial in this slow recovery and a longer term issue that existed before this. you have to be able to walk and chew gum at the same time and it's a very difficult thing to do politically. it's good to do...
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Sep 11, 2012
09/12
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deficit as a share of gdp. if he were to look at the total deficit over the last three or four years, at its peak almost 10% of gdp. the 13% of gdp because that is roughly in line with the growth in the economy. if he were to have your deck growing at the same pace, he can manage that and keep it under control. this is not in your packet. it is really a confusing term. this is how financial markets are try to came out -- to game out what happens over the next few months. there are trying to determine how they should trade at a treasury market, the stock market. the only thing that matters is if you draw -- look at every single point. there are only two options. one of the grand bargain. the others said they will enacted that happens that we do not know how to calculate. -- the other thing is something really nasty that happens that we do not know how to calculate. >> what brings out? what is built into the calculation? >> overtime, if he were to look at what happened over the obama table tax cut took effect, th
deficit as a share of gdp. if he were to look at the total deficit over the last three or four years, at its peak almost 10% of gdp. the 13% of gdp because that is roughly in line with the growth in the economy. if he were to have your deck growing at the same pace, he can manage that and keep it under control. this is not in your packet. it is really a confusing term. this is how financial markets are try to came out -- to game out what happens over the next few months. there are trying to...
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Oct 12, 2012
10/12
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get this deficit and debt under control. make trade work for america. champion small businesses, do not raise taxes on small businesses. they are our job creators. he talks about detroit. mitt romney is a car guy. this is a guide who i was talking to a family in massachusetts the other day. their kids of work hid in a car crash. two of them were paralyzed. they went to the same church. mitt asked if he could come over on christmas. he brought his boys and his wife and deaths. i know you are struggling, do not worry about college, i will pay for it. mitt romney does not tell these stories. it was not the cash, he gave his time and he has consistently. this is a man who gave 30% of its income to charity, more of the two of us combined. he is a good man. he cares about 100% of americans in the country. the vice president knows that sometimes the words did not come out of your mouth the right way. [laughter] >> i always say what i mean. >> we want everybody to succeed. we want to get everybody out of poverty. we believe an opportunity. that is what we're go
get this deficit and debt under control. make trade work for america. champion small businesses, do not raise taxes on small businesses. they are our job creators. he talks about detroit. mitt romney is a car guy. this is a guide who i was talking to a family in massachusetts the other day. their kids of work hid in a car crash. two of them were paralyzed. they went to the same church. mitt asked if he could come over on christmas. he brought his boys and his wife and deaths. i know you are...
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Feb 1, 2012
02/12
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everyone is aware of the deficit situation. it is plaguing not only congress but our national politics. a lot of the reaction and statements are fairly predictable. you are seeing political statements from republicans casting it as a failure of president obama's leadership. democrats see a different way. you have seen the president do more push back on the idea lately. he has gone into campaign mode. >> how will the numbers come but the projections, when you take it back to capitol hill, how will the impact of the lawmakers approach the annual budget? >> the answer is hardly at all. those numbers were not surprising. keep in mind, all those lifts that were attended on budgetary issues they are done. the debt limit deal that resulted in a trillion dollars in discretionary cuts. the sequester on top of that which is controversial, they were already done. talks with vice-president biting, of the talks. debt limit talks super committee talks all failed. everyone accepts that none of that is going to get solved in any meaningful way
everyone is aware of the deficit situation. it is plaguing not only congress but our national politics. a lot of the reaction and statements are fairly predictable. you are seeing political statements from republicans casting it as a failure of president obama's leadership. democrats see a different way. you have seen the president do more push back on the idea lately. he has gone into campaign mode. >> how will the numbers come but the projections, when you take it back to capitol hill,...
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Feb 13, 2012
02/12
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in terms of the first question, the eight deficit and the reduction in that deficit -- we knew things were not in good shape, but we did not realize how bad they actually were. the fourth quarter in 2008 at the time we thought was - 3% or so. we now realize it was closer to - 8%. the president inherited a much worse situation, hundreds of thousands of jobs being lost per month. we had unpaid for medicare prescription drugs from the bush tax cuts and i think the situation was far worse than we had anticipated, particularly given the economic news we started with. the president's budget does cut the deficit in half in 2014, one year later than be a original projection, and i think that is explained by the situation we inherited on the economic front. on the sequester, let's be clear -- it is bad policy. just look on the defense side -- it would require $500 billion of further cuts. across-the-board cuts. that is bad policy. we believe the sequester should be replaced with the balanced deficit reduction i described earlier. there's plenty of balanced deficit reduction to replace sequeste
in terms of the first question, the eight deficit and the reduction in that deficit -- we knew things were not in good shape, but we did not realize how bad they actually were. the fourth quarter in 2008 at the time we thought was - 3% or so. we now realize it was closer to - 8%. the president inherited a much worse situation, hundreds of thousands of jobs being lost per month. we had unpaid for medicare prescription drugs from the bush tax cuts and i think the situation was far worse than we...
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Feb 15, 2012
02/12
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in deficit? >> one of the great things is that we use the neutral independent arbiter of our policies and yours. our policies which we will a valid for you will show that if congress were to enact them, off to bring our deficits down from our current, unsustainable levels to a level that is sustainable. we define sustainable as a level where the debt stops growing as a share of our economy. if congress were to adopt these proposals, then our debt burden as a share of the economy, this is debt held by the public and debt of financial assets, will stabilize in the 70's as a percent of gdp. >> you're telling me the deficit is going to go down? i do not believe that. >> absolutely. >> prove that to me because i do not believe that. >> it depends what congress does. in the constitution, we can only propose. congress has to enact. if the congress would enact the president's's proposals that they would bring the deficit down. >> i have a lot of respect for you. i think you are a bright man. you have had
in deficit? >> one of the great things is that we use the neutral independent arbiter of our policies and yours. our policies which we will a valid for you will show that if congress were to enact them, off to bring our deficits down from our current, unsustainable levels to a level that is sustainable. we define sustainable as a level where the debt stops growing as a share of our economy. if congress were to adopt these proposals, then our debt burden as a share of the economy, this is...
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Nov 12, 2012
11/12
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work is impending on the fiscal cliff, the federal deficit, racing the debt ceiling and by how much and also sequestration. follow all the floor debates starting at 2:00 p.m. eastern on c-span and c-span2. >> now a discussion on the situation in afghanistan and the potential impact of president obama's reelection on the middle east. this is 30 minutes. daniel markey from the council on foreign relations. i want to begin with a general question of what the country looks like, who was running the country, and what our presence is felt like by the afghan people? guest: president hamid karzai has been there coming up on 10 years as president. in 2014, he is expected to step down with the next set of elections. you have a country that is still very much in turmoil despite the fact we have been at war there for quite some time. it's a place where you have seen accomplishments, say, on education, improvements in certain varieties of services delivered by the government, development, roads, things like that, but nothing near where you would need to see the kind of progress that people had hoped
work is impending on the fiscal cliff, the federal deficit, racing the debt ceiling and by how much and also sequestration. follow all the floor debates starting at 2:00 p.m. eastern on c-span and c-span2. >> now a discussion on the situation in afghanistan and the potential impact of president obama's reelection on the middle east. this is 30 minutes. daniel markey from the council on foreign relations. i want to begin with a general question of what the country looks like, who was...
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Oct 12, 2012
10/12
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we have had four deficits. a debt crisis is coming. we cannot keep spending and borrowing like this. we cannot keep spending money we do not have. leaders fix problems. president obama has not put a credible plan on the table in any of his four years. i passed two budgets to deal with this. mitt romney has put suggestions out. we ask for a plan, they sent a press secretary. they give us a copy of the speech appeared be asked with the plan was to prevent a debt crisis. they said, a speech. we cannot estimate speeches. that is what we get, speeches. we are not getting leadership. mitt romney is qualified to fix the problems. his lifetime of experience is, what do we have for a president? he broke his promise to bring people together to solve the biggest problems. i would tell him we do not have to settle for this. >> i hope i will get equal time. >> you will get a few seconds, really. >> the two budgets the congressman has introduced have even serrated all of the things the middle-class has cared about. it will kick 200,000 children off
we have had four deficits. a debt crisis is coming. we cannot keep spending and borrowing like this. we cannot keep spending money we do not have. leaders fix problems. president obama has not put a credible plan on the table in any of his four years. i passed two budgets to deal with this. mitt romney has put suggestions out. we ask for a plan, they sent a press secretary. they give us a copy of the speech appeared be asked with the plan was to prevent a debt crisis. they said, a speech. we...
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Dec 11, 2012
12/12
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create jobs to reduce the deficit. want to fix the deficit? grow the economy and do so in a way that makes responsible cuts , strong investments for our seniors, pillars of economic security for them and for their families. it is not a time to inject even more uncertainty into the lives of the american people and the economy of our country and what that means globally. it simply isn't the time. many of these ideas are bad at any time, but they are particularly harmful at this time. so again, i thank the speaker for bringing the issue finally to the floor of the house of representatives. i look forward to how we can move quickly because time is of the essence and every day that we can remove all doubt about the full faith and credit of the united states of america, our investments in the future, our creation of jobs, and our respect and support for the economic -- and help the security of our seniors. every day we can do that, put more quickly, is a good day. with that, mr. speaker, i yield back the balance of my time. the speaker pro tempore:
create jobs to reduce the deficit. want to fix the deficit? grow the economy and do so in a way that makes responsible cuts , strong investments for our seniors, pillars of economic security for them and for their families. it is not a time to inject even more uncertainty into the lives of the american people and the economy of our country and what that means globally. it simply isn't the time. many of these ideas are bad at any time, but they are particularly harmful at this time. so again, i...
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Mar 24, 2012
03/12
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but we also moved ahead to begin to cut the deficit. last year with the help of my two colleagues we cut spending by $1 trillion. we also made a deal -- we also made a deal with the republican friends to cut it by another $1.2 trillion and set thaup super committee. remember. what did they come up with? nothing. and we're on our way on the cusp of negotiating. i was doing most of the negotiation for an agreement that would cut the overall deficit by $4 trillion. but the republicans, they walked away from it. why? because they wanted to maintain every major tax cut for the very wealthiest and happen have them move in perpetuity. look, they wanted additional trill dollars in tax cuts and i want to explain, when you say that, it's leak, no, trillion, that doesn't -- i mean trillion, i can't -- can't even calculate this. let me put it this way. of that trillion dollars, $830 million of that trillion dollar tax cut will go to households making over $1 million a year. 315,000 of the wealthiest families in america average income $3.1 million a
but we also moved ahead to begin to cut the deficit. last year with the help of my two colleagues we cut spending by $1 trillion. we also made a deal -- we also made a deal with the republican friends to cut it by another $1.2 trillion and set thaup super committee. remember. what did they come up with? nothing. and we're on our way on the cusp of negotiating. i was doing most of the negotiation for an agreement that would cut the overall deficit by $4 trillion. but the republicans, they walked...
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Apr 12, 2012
04/12
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and 37% deficit, the largest deficit of any state in america. and now my democratic friends thought that was the time we move in for the kill and wept back to their favorite thing, president will be talking about it today, we are going to have millionaires' surcharge to help the balance the budget. you think that is millionaire's tax? here's how it went. in new jersey, they said the millionaires' tax applied to everyone who made $400,000 a year or over. now that's called new jersey math, everybody. and see, i tried to use the sling point earlier in my administration. i said to the people, listen, we all aspire to be wealthy and all aspire for success and if you are not a millionaire but would like to feel like one, come to new jersey. [laughter] >> even if you are not a millionaire, we will tax you like one. [laughter] >> what they are talking about now is that mailion air's tax was 9% on everything $400,000 and over. now what they wanted was 10.75% on everything $400,000 and over. so we had a little debate about that, the conflicts in my budget
and 37% deficit, the largest deficit of any state in america. and now my democratic friends thought that was the time we move in for the kill and wept back to their favorite thing, president will be talking about it today, we are going to have millionaires' surcharge to help the balance the budget. you think that is millionaire's tax? here's how it went. in new jersey, they said the millionaires' tax applied to everyone who made $400,000 a year or over. now that's called new jersey math,...
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Apr 15, 2012
04/12
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our nation continues to suffer trillion dollars annual deficits. it is unfair, even immoral to do to future generations. we have a president that has a plan to deal with it. he wants to raise taxes to close that gap and to take on our unprecedented debt. instead of dealing with the spending, he wants to simply raise taxes, including on small businesses that we are you -- we are relying on to get this economy moving again. does that make sense to you? no, it does not. instead of raised taxes that are going to hurt small businesses -- by the way, we cannot raise enough taxes to catch up to the spending that we have currently projected. it's simply cannot happen. you cannot raise taxes that's enough to change that level of spending. we have a president, at a time when employers are crying out for more sensible and balance approaches to regulations, during an incredibly weak recovery, he is saying we ought to be regulating more, not less. some of these regulations have a particular lot impact on pennsylvania and ohio. does that make sense to you? no, i
our nation continues to suffer trillion dollars annual deficits. it is unfair, even immoral to do to future generations. we have a president that has a plan to deal with it. he wants to raise taxes to close that gap and to take on our unprecedented debt. instead of dealing with the spending, he wants to simply raise taxes, including on small businesses that we are you -- we are relying on to get this economy moving again. does that make sense to you? no, it does not. instead of raised taxes...
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Sep 30, 2012
09/12
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the fed is actually reducing the deficit and making huge profits returning record amounts of money to the treasury as a result of previous quantitative easing, so it's the opposite of spending your tax dollars. the fed a legally independent and ran by a guy originally appointed by george w. bush. this is just so completely over the top that we decided to do a piece on that particular email. pretty much, these messages to true believers have to exceed what we have already the bonds before we pay attention to them. we are out of time. thank you all for your attention. thank you for your questions. [applause] [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2012] >> monday, a citizen's guide to the 2012 presidential debate from the national communications association panel looking at the hours of the debates coming up next month. live coverage begins at 1:00 p.m. eastern on c-span. >> you established a third party. you ran twice. you established -- what was the name of it? united we stand? the reform party. do you feel that is nee
the fed is actually reducing the deficit and making huge profits returning record amounts of money to the treasury as a result of previous quantitative easing, so it's the opposite of spending your tax dollars. the fed a legally independent and ran by a guy originally appointed by george w. bush. this is just so completely over the top that we decided to do a piece on that particular email. pretty much, these messages to true believers have to exceed what we have already the bonds before we pay...
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Nov 5, 2012
11/12
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with the democrat legislature, i helped my state turn from deficit to surplus. we went from higher taxes to higher take-home pay. that is why i am running for president. [cheers and applause] i know how to change the course the nation is on. how to get to a balanced budget, how to build jobs and see rising take-home pay. accomplishing change is not something i talk about. it is something i have done and it is something i will do as president of the united states. if you believe we can do better -- [crowd chants "romney, romney"] if you believe we can do better, if you believe america should be on a better course, if you are tired of being tired, i asked you to vote for real change. paul ryan and i will bring real change to america on day 1. i will not waste time complaining about my predecessor. i will go to work to get americans back to work. people across the country are responding to our five part plan to create jobs. part one is taking full advantage of our energy resources -- coal, gas, solar. i will act to speed up the approval of the keystone pipeline. i
with the democrat legislature, i helped my state turn from deficit to surplus. we went from higher taxes to higher take-home pay. that is why i am running for president. [cheers and applause] i know how to change the course the nation is on. how to get to a balanced budget, how to build jobs and see rising take-home pay. accomplishing change is not something i talk about. it is something i have done and it is something i will do as president of the united states. if you believe we can do better...
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Dec 28, 2012
12/12
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we have a $16 trillion deficit right now. we have the deficit because of social security, medicaid, medicare, welfare, food stamps -- all policies put into effect by the democratic party. everything is socialism. thomas jefferson said it best -- the republic is doomed. people sacrifice -- i'm a libertarian. i am more objective. i'm not a republican or democrats. i have to wonder if i want to live in this country. 29% of americans got some kind of assistance when ronald reagan was president. i have to consider and i'm considering moving to a tropical island and watching america go down the drain. we need to abolish social security, medicare, and medicaid. host: i will stop you there. we appreciate your thoughts. joseph says -- will go back to stay but by the president on the passing of norman schwarzkopf. host: "his legacy will e ndure." back to your calls. caller: good morning. god bless us. [indiscernible] where is the love? .e're at a church when the president and everybody was running. the church was all over the program.
we have a $16 trillion deficit right now. we have the deficit because of social security, medicaid, medicare, welfare, food stamps -- all policies put into effect by the democratic party. everything is socialism. thomas jefferson said it best -- the republic is doomed. people sacrifice -- i'm a libertarian. i am more objective. i'm not a republican or democrats. i have to wonder if i want to live in this country. 29% of americans got some kind of assistance when ronald reagan was president. i...
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Feb 13, 2012
02/12
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it was a big part of the deficit. again, entirely deficit financed. look at that and you will see it a number of times. what you find is that of the increase in the deficit against what bush inherited, 50% is economic performance. a big recession, a big dot com bubble bursting. of the rest, it is about 16% on the tax and spending side. to my eye, the biggest mistake of that era, roughly the first 10 years of this century, we did not fix social security, medicare, and medicaid. we did not fix the foreseeable future problems. in a crisis, we lost our cushion and it is harder. host: you think that that was the time to do it? guest: i am saying the same things the day that i was saying in 2003 and i am tired of hearing myself talk about it. it is a big missed opportunity. host: we want to get your take on this, from the outlook section of -- section of "the washington journal." -- "the wall street journal." guest: personally, i have never been in the double dip camp. i have always seen the u.s. has recovering, and recovering slowly. i think that the econo
it was a big part of the deficit. again, entirely deficit financed. look at that and you will see it a number of times. what you find is that of the increase in the deficit against what bush inherited, 50% is economic performance. a big recession, a big dot com bubble bursting. of the rest, it is about 16% on the tax and spending side. to my eye, the biggest mistake of that era, roughly the first 10 years of this century, we did not fix social security, medicare, and medicaid. we did not fix...
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Oct 2, 2012
10/12
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the obama budget has been scored by the cbo and has a 2.4% deficit-reduction in the next 10 years. you can argue over what you think that is enough in not to stabilize the debt to gdp ratio but conversely, i'm not actually sure i would want to see ronnie detail all of the tax expenditure changes he says he will come up with. the problem, of course, is betting campaign, if people -- is tt in campaigns, if people start putting out more detailed proposals, demobilize the opposition. this is kind of like the 1993 securities commission. the two parties can hold hands and they do not start out being a brahney proposal or an obama proposal or a republican proposal or a democrat proposal. i am interested in what is in the debates in the next four weeks -- i am less interested in what is in the debates in the next four weeks and then what the vendor does in the weeks after the election. >> why would you like to hear -- what would you like to hear obama say in the weeks after the election? >> we are not going to have a deal that does not have revenues and spending. the biggest obstacle is on
the obama budget has been scored by the cbo and has a 2.4% deficit-reduction in the next 10 years. you can argue over what you think that is enough in not to stabilize the debt to gdp ratio but conversely, i'm not actually sure i would want to see ronnie detail all of the tax expenditure changes he says he will come up with. the problem, of course, is betting campaign, if people -- is tt in campaigns, if people start putting out more detailed proposals, demobilize the opposition. this is kind...
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Jan 27, 2012
01/12
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guest: there were some cuts in the deficit. the debt ceiling debate resolution, but not anywhere near as much as anyone describes it. in terms of reducing the long- term debt, it is really just nicking at the site. he did not cut the tree down, you chop at the bar, in a sense. no one really wants to chop the tree down. republicans, push comes to shove, it will be interesting if they win both branches of congress and the presidency, will they be able to push the paul ryan budget which does do severe damage to federal government spending, and welfare programs in general, including medicare. that would be interesting weather they have the nerve and power to enact that. host: you write about is getting tougher as time goes on. what do you see in the political landscape as the so- called politics of austerity become more prevalent? guest: id has changed the way americans have traditionally dealt -- it has changed the way americans have traditionally dealt with political issues. historically, the country has grown, and you can compro
guest: there were some cuts in the deficit. the debt ceiling debate resolution, but not anywhere near as much as anyone describes it. in terms of reducing the long- term debt, it is really just nicking at the site. he did not cut the tree down, you chop at the bar, in a sense. no one really wants to chop the tree down. republicans, push comes to shove, it will be interesting if they win both branches of congress and the presidency, will they be able to push the paul ryan budget which does do...
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Oct 21, 2012
10/12
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he criticized the obama administration for the current budget deficit. this, he claims, has affected home values, the unemployment rate and the economy. >> hi, everybody. in recent weeks you might have noticed something or maybe even heard the sound of it if you look close enough. new homes are going up. in fact, construction workers are breaking ground on new homes in america at the fastest pace in more than four years. at the same time more homes are being sold. home values are back on the rise and foreclosure filings are at their lowest point in the five years since the housing bubble burst and left millions of responsible families holding the bag. now, we're not where we need to be yet. too many homes are still underwater. too many families are still having a hard time making the mortgage on their piece of the american dream, but one of the heaviest drags on our recovery is getting lighter. now we have to build on progress that we have made and keep moving forward. i never believed that the best way to deal with the housing market was to just sit bac
he criticized the obama administration for the current budget deficit. this, he claims, has affected home values, the unemployment rate and the economy. >> hi, everybody. in recent weeks you might have noticed something or maybe even heard the sound of it if you look close enough. new homes are going up. in fact, construction workers are breaking ground on new homes in america at the fastest pace in more than four years. at the same time more homes are being sold. home values are back on...
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Jan 27, 2012
01/12
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we jar about competitiveness and trade deficits as much as they are about budget deficit, and i think it's that part of the piece that needs further work and attention and that's what chancellor was talking about yesterday and christine as well. >> banks are thinking the eurozone is the worst of the crisis, and do you think that's wishful thinking? >> i think what's happening still at the moment in the term of the high bond deals in country that are effective, hold back the growth and their participation in the european economy. that still, as i said in my speech, it's a little bit better than it was at the end of last year, but it still is not fixed. you've got to fix, in my view, the short term issues before you can go on and then deal with a longer term problem. look, why wasn't this problem -- why didn't it manifest earlier? ask you're, there's many years of successful eurozone operations, but, of course, in those years, private sector financial players in ways were covering up for the deeper competitiveness problems, and as they dried up, and unless they return, you have to addre
we jar about competitiveness and trade deficits as much as they are about budget deficit, and i think it's that part of the piece that needs further work and attention and that's what chancellor was talking about yesterday and christine as well. >> banks are thinking the eurozone is the worst of the crisis, and do you think that's wishful thinking? >> i think what's happening still at the moment in the term of the high bond deals in country that are effective, hold back the growth...
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Mar 4, 2012
03/12
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this president when he was running far office said he would cut the deficit in half. he has doubled it. he has raised taxes on middle income families if you consider obamacare. he also told the american people that if we let him borrow $787 billion for his so-called stimulus, he would keep unemployment below 8%. it has not been below 8% since. this is a president who is out of ideas, excuses, and in 2012, we will make sure he is out of office. [applause] you guys are great. this is like an ohio state football game. this is amazing. let me tell you -- in this election, we are going to have a choice as to the direction of america. we have a president who is comfortable with a trillion dollar deficits even as europe is suffering near calamity because of their deficit, he is comfortable adding up trillion upon trillion. if i am president of the united states, i will cut programs, i will return programs to states, and i will finally balance our budgets. [applause] i happen to think these deficits are dangerous, that for the economy, i also think they are immoral. i think i
this president when he was running far office said he would cut the deficit in half. he has doubled it. he has raised taxes on middle income families if you consider obamacare. he also told the american people that if we let him borrow $787 billion for his so-called stimulus, he would keep unemployment below 8%. it has not been below 8% since. this is a president who is out of ideas, excuses, and in 2012, we will make sure he is out of office. [applause] you guys are great. this is like an ohio...
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Feb 4, 2012
02/12
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we were looking at a big deficit. we did not want to raise taxes because we knew it would hurt working families. i have learned through those experiences something about leadership and something about business and jobs. and why businesses lose jobs, how and why we are able to grow. but first about leadership. a leader does not work with the people just in his party or the people that agree with him, he has to convince people across the aisle, people that disagree with them. right now, in our country, they are highly divided. you have republicans and democrats battling back and forth. but we don't have the leadership of a president that is willing to work and point out that the crisis that we face must be addressed by people in both parties. i was lucky enough to be collected in a state with a legislature that is slightly democrat. 85% democrat. i worked with people across the aisle to get things done with the people of my state. i also learned something in my business career and why jobs come and go. i learned that bu
we were looking at a big deficit. we did not want to raise taxes because we knew it would hurt working families. i have learned through those experiences something about leadership and something about business and jobs. and why businesses lose jobs, how and why we are able to grow. but first about leadership. a leader does not work with the people just in his party or the people that agree with him, he has to convince people across the aisle, people that disagree with them. right now, in our...
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Feb 18, 2012
02/12
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that would go a long way towards helping our deficit situation. that could raise i think it's close to $4 trillion over 10 years. and that's a point that some economists make, there's a lot more money in the middle class because there's a lot more people there. but then you get to issues of equity and obama -- most republicans. obama does not want to touch those in those lower income categories. host: silver spring maryland. you're on with kim dixon of reuters. caller: good morning. i think a gasoline tax and that would have stimulated the economy more. it would have made up whatever the tax cut on the social security is. and on your investment, you can be taxed three times. what -- what the corporation pays, your dividend. and then if you sell the stocks you pay on that capital gains. and i guess a lot of us are going to wait and see what the social security trustees' report says because we're digging a big hole in social security. i'll hang up and listen. thank you. guest: he makes the argument that many business make that capital is taxed more
that would go a long way towards helping our deficit situation. that could raise i think it's close to $4 trillion over 10 years. and that's a point that some economists make, there's a lot more money in the middle class because there's a lot more people there. but then you get to issues of equity and obama -- most republicans. obama does not want to touch those in those lower income categories. host: silver spring maryland. you're on with kim dixon of reuters. caller: good morning. i think a...
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Dec 10, 2012
12/12
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it does not solve the deficit. it is not a serious deficit proposal. the credit rating agencies are looking for a plan that lowers the gdp to debt ratio. i do not think there is a magic number. social security, medicare, to find a sustainable path for word on them. do you think the president's plan adequately addresses the sustainability of medicare and social security? >> i think he needs to go further. i do not think it is enough. i believe the proposals are good ones. i think they are hard proposals to make because they're substantive. to achieve fiscal sustainability in the context of $3 trillion in 10-year deficit reduction, i think we need to do more. >> looking at the republican plan and the president's proposal, do you see any common ground? >> the common ground is that we're looking at the same proposals. cbo has scored a number of different approaches. i also think there is no general agreement in the context of the current discussion, we will not make any major structural changes to these programs. we will not block grant medicaid, and we wi
it does not solve the deficit. it is not a serious deficit proposal. the credit rating agencies are looking for a plan that lowers the gdp to debt ratio. i do not think there is a magic number. social security, medicare, to find a sustainable path for word on them. do you think the president's plan adequately addresses the sustainability of medicare and social security? >> i think he needs to go further. i do not think it is enough. i believe the proposals are good ones. i think they are...
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Feb 3, 2012
02/12
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then also contributing to long- term deficits. there are reasons -- these are reasons why we should take immediate action. we should take up the president's joplin that he presented in september including important investments. we should also finish the job with respect to the payroll tax cut. we should make sure unemployment assurances are there for millions of others who are out of work through no fault of their own. dr. bernanke, i apologize for you in advance. the conference committee also begins at 10:00. i will have to leave before i want to. let me close by saying as we nurture the very fragile economy, we should also take immediate steps to enact a plan to reduce our deficits and debt. we should do it in a stable, predictable, and balanced way. the question is not whether we should do that, the question is how we do that. i believe are rigid bipartisan commission's provided the overall framework to the approach is not every specific recommendation they make. with that, thank you for you and your colleagues work. >> the flo
then also contributing to long- term deficits. there are reasons -- these are reasons why we should take immediate action. we should take up the president's joplin that he presented in september including important investments. we should also finish the job with respect to the payroll tax cut. we should make sure unemployment assurances are there for millions of others who are out of work through no fault of their own. dr. bernanke, i apologize for you in advance. the conference committee also...
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Oct 6, 2012
10/12
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i think is liberal to cut taxes when you are operating a deficit, because you are spending money. >> i do not think your labels mean a lot. what i have said from the beginning -- the centerpiece of our problems is the national debt. we simply have to look at this. whether we do it this year because of the way our economy is or next year, $2.3 trillion. >> i want you to respond to this. >> i'm glad there is a clear contrast between the two of us. i do not believe we should raise taxes. i do not think the problem is that americans are not taxed enough. mr. sadler has been very candid that he would consider raising taxes on every single tax and who pays income tax is. >> that is not fair. >> if you would consider allowing all of the bush tax cuts to expire, that would raise taxes on every single tax and who pays income tax. are the texans to pay income taxes we would not raise taxes on? you did not have an answer. >> you will not put words in my mouth. i would say, the first place, we have to balance the budget, cut spending, and raise revenue to reduce the national debt. you have never
i think is liberal to cut taxes when you are operating a deficit, because you are spending money. >> i do not think your labels mean a lot. what i have said from the beginning -- the centerpiece of our problems is the national debt. we simply have to look at this. whether we do it this year because of the way our economy is or next year, $2.3 trillion. >> i want you to respond to this. >> i'm glad there is a clear contrast between the two of us. i do not believe we should...
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Mar 28, 2012
03/12
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the nation has gone from a federal deficit of billions of dollars to a deficit of trillions of dollars. the government is printing money at an unprecedented pace, which presents significant risk of inflation. our debt is at $15 trillion and mounting rapidly. as associated with paying interest on that debt, congress has done little. families across our nation understands what it means to make tough decisions each day about what they can and cannot afford, yet far too often this has been lost. if americans must exercise restraint with their own funds, then government officials must be required to exercise a higher standard when spending other people's hard-earned money. the house budget we are considering today is a good budget and i support it and it is dependent on congresses being elected for the next 28 years to uphold this budget as well as a president who will sign appropriations measures into law. i'm a supporter of the republican study committee budget. while this budget is bold and some say drastic, these measures are needed to solve our nation's fiscal crisis. mr. chairman, unl
the nation has gone from a federal deficit of billions of dollars to a deficit of trillions of dollars. the government is printing money at an unprecedented pace, which presents significant risk of inflation. our debt is at $15 trillion and mounting rapidly. as associated with paying interest on that debt, congress has done little. families across our nation understands what it means to make tough decisions each day about what they can and cannot afford, yet far too often this has been lost. if...
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Apr 25, 2012
04/12
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they say, well, we got to bring down the deficit. of course, this is the deficit they helped run up over the past decade. didnt pay for two wars. didnt pay for two massive tax cuts. and now this is the reason why you want students to pay more? they just voted to keep giving billions of dollars in taxpayer subsidies to big oil companies that are raking in record profits. >> booo -- >> they just voted to let millionaires and billionaires keep paying lower tax rates than middle-class workers and their secretaries. >> booo -- >> they even voted to give an average tax cut of at least $150,000 to folks like me, the wealthiest americans -- a tax cut paid for by cutting things like education and job training programs that give students new opportunities to work and succeed. now, thats their priorities. and that doesnt make any sense. do we want to keep tax cuts for the wealthiest americans who dont need them and didnt ask for them? or do we want to make sure that theyre paying their fair share? do we want to keep subsidizing big oil, or do w
they say, well, we got to bring down the deficit. of course, this is the deficit they helped run up over the past decade. didnt pay for two wars. didnt pay for two massive tax cuts. and now this is the reason why you want students to pay more? they just voted to keep giving billions of dollars in taxpayer subsidies to big oil companies that are raking in record profits. >> booo -- >> they just voted to let millionaires and billionaires keep paying lower tax rates than middle-class...
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Nov 27, 2012
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it has not added one penny to the deficit. for those who say there is a good reason to push it off the table and we brought another day, i would add a note of caution. small changes made today in social security will play out over the long run it to buy solvency for a long time. i think we should take social security off the table for the current fiscal cliff but be very honest about what we're going to achieve in the near term. i think we should create the equivalent of the simpson- bowles commission for social security and give them eight months to a year to come up with a planned to buy us 75 years of solvency for social security. then bring it to the floor for a vote and allow any bipartisan group who can come up with a credible plan that meets the same goal to offer their own to be voted on in the senate and house. i might add a wrinkle here that senator mark warner came up with that i think is sensible. there should be a decennial process. every 10 years, but they should measure whether or not social security still has 7
it has not added one penny to the deficit. for those who say there is a good reason to push it off the table and we brought another day, i would add a note of caution. small changes made today in social security will play out over the long run it to buy solvency for a long time. i think we should take social security off the table for the current fiscal cliff but be very honest about what we're going to achieve in the near term. i think we should create the equivalent of the simpson- bowles...
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Jul 25, 2012
07/12
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tonko: my colleague from california just indicated that there would be a deficit -- favorable deficit outcome because of affordable care act. mr. garamendi: exactly. mr. tonko: what else reduces the deficit? putting people to work. putting people to work, the american jobs act. plain and simple. it's about addressing the deficit and providing for the dignity of work and the enhancement of services that strengthens the fabric of our communities, our states, our nation. so, the american jobs act, according to experts, is a phenomenal plan. we've heard the republicans say, we have some 30 bills that are about growing the economy and producing jobs, when in fact when put under the test, when reviewed by some very sound organizations out there and professional economists and analysts, it would do precious nothing, that it was not the formula, not what the doctor called for, if we can say on that -- stay on that health care-related theme, but the american jobs act, well, you know, listen to some of the experts. the chief economist at moodies -- at moody's analytics, who by the way, mark zan
tonko: my colleague from california just indicated that there would be a deficit -- favorable deficit outcome because of affordable care act. mr. garamendi: exactly. mr. tonko: what else reduces the deficit? putting people to work. putting people to work, the american jobs act. plain and simple. it's about addressing the deficit and providing for the dignity of work and the enhancement of services that strengthens the fabric of our communities, our states, our nation. so, the american jobs act,...
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May 9, 2012
05/12
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we rap deficits during the -- ran deficits during the good years. i'm all for being fiscally responsible when the economy is strong enough. the result we came with a debt number. host: republican caller, good morning clyde. caller: i want to continue the conversation. this is a quote from john from 1920.ebmçç continue use process of inflation government can confiscate secretly citizens. it does it in a manner that not one man in a million can diagnose. let me -- host: clyde, why are you sharing that with us? caller: the year back in 1971, i grossed $3000 off that acre. yet, think still close about $30 an ounce. today if i have that same acre and have the same purchases, i would have to have 88,245 paper federal reserve. i tell you what, keynesian destroyed our country. if you want to end this depression -- that is the problem. that's the way to end the depression. guest: , okay, let me say. hyperinflations, we are in situations where governments trying to pay their bills by printing money and prices go through the roof are a bad thing. that's wha
we rap deficits during the -- ran deficits during the good years. i'm all for being fiscally responsible when the economy is strong enough. the result we came with a debt number. host: republican caller, good morning clyde. caller: i want to continue the conversation. this is a quote from john from 1920.ebmçç continue use process of inflation government can confiscate secretly citizens. it does it in a manner that not one man in a million can diagnose. let me -- host: clyde, why are you...
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Nov 10, 2012
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60% said reduce the deficit. 30% said spending on education. in 1996, when bill clinton was president, it was almost a complete and first. that speaks to the level of anxiety. they might not understand the difference between the two, but they understand there is a big problem that is out of control and they want to see it addressed. regardless of what happened tuesday, that will play a big role in politics going forward. >> i agree. previously, when the debt and deficit was not as big of an issue, i think cuts to education would be more controversial. i think people are starting to get that everything needs to be on the table. the big changes how to get more efficiency out of the system, more bang for our buck? people do not want to see the quality of the education system to get worse, and people understand it needs to get better in a serious way, but at the pot of money to go to schools is not growing. i think voters are realistic that is not going to grow. so, to the extent that reformers can focus on ways to use money more effectively, that
60% said reduce the deficit. 30% said spending on education. in 1996, when bill clinton was president, it was almost a complete and first. that speaks to the level of anxiety. they might not understand the difference between the two, but they understand there is a big problem that is out of control and they want to see it addressed. regardless of what happened tuesday, that will play a big role in politics going forward. >> i agree. previously, when the debt and deficit was not as big of...
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Jul 29, 2012
07/12
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>> if left unaddressed, our long term fiscal deficits would damage the american economy. i agree if left unaddressed, that would be true. >> honey morgan jr. secretary treasurer under franklin roosevelt. he has often been quotes recently. he said, "we are spending more money than we have ever spent before and it does not work. i want to see this country prosperous, i want to see people get a job. we have never made good on our promises. i say after eight years of this administration, we have just as much unemployment as when we started and an enormous debt." what's different between then and what is happening now in light of secretary's comment? >> good question and context. at. worth looking back chairman greenspan and others have said this crisis was caused by a shock, a storm much larger than what caused the great depression but because of the things we did, and we were able to get the economy growing again much more quickly. the economy is much stronger than was at that time in history that you refer to and much stronger than it was when we came into office. the fisca
>> if left unaddressed, our long term fiscal deficits would damage the american economy. i agree if left unaddressed, that would be true. >> honey morgan jr. secretary treasurer under franklin roosevelt. he has often been quotes recently. he said, "we are spending more money than we have ever spent before and it does not work. i want to see this country prosperous, i want to see people get a job. we have never made good on our promises. i say after eight years of this...
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Oct 10, 2012
10/12
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some serious deficit reduction. and i think when he looks at the math, if the three choices if, what i've outlined is correct and almost every expert agrees, you can only have two of those. which is the one that even he might go for? i'm not saying he will say that tomorrow. but i don't think he'll be the president so it won't matter. but that's what i think. >> does this put pressure on your colleagues? >> you know, there's no pressure i can put on them. i can propose an idea and see people grasp it. if it helps move things forward, that is my intention and i hope that's what happens. >> i want to double-check in terms of major retirement entitlement reform. one of the big issues is raising the age. are you taking it off the table? >> no, i am not taking anything off the table. i have been personally against raising the age. i continue to be. i have never on any of these issues say i will not support this bill. i don't think raising the age will happen. i think there's a lot of opposition to it. >> you just mention
some serious deficit reduction. and i think when he looks at the math, if the three choices if, what i've outlined is correct and almost every expert agrees, you can only have two of those. which is the one that even he might go for? i'm not saying he will say that tomorrow. but i don't think he'll be the president so it won't matter. but that's what i think. >> does this put pressure on your colleagues? >> you know, there's no pressure i can put on them. i can propose an idea and...